The Store Analysis looks at your store as a whole to calculate various metrics.
It's useful if you want to see the overall direction you're heading towards or if you need overall metrics for decision-making.
Many of the metrics also able to be drilled down into and graphed. They also show up in other analyses and can be segmented further there.
The analysis can be refined by the Period so only orders and customer behavior within that period is analyzed. It can also be filtered by the Acquisition Source so only customers who came from that specific source are counted in the analysis.
Average Order Value measures how much each customer spends in an order, on average. This is one of the more popular metrics and can help figure out if your store (or customer) tends toward smaller or larger orders.
Average Lifetime Value (LTV) averages how much each customer spends. This tells you have valuable a potential customer could be which is a major factor in acquisition-based decision making.
Repeat Purchase Rate is the measure of what percentage of customers come back to place a second order. Strong Repeat Purchase Rates can make acquisition costs go a lot further and measure how loyal your customer base is.
Returning Customer Rate also measures the percentage of customers who place a second order. This is different than Repeat Purchase Rate as it looks outside any Period filter to see who came back. For example, filtering to 2023 will look for customers who ordered again in 2023 even if their purchase was in prior years.
Total Customer Revenue is the total revenue of all orders analyzed. This includes line items, discounts, shipping, taxes, tips, and refunds.
Number of Customers counts customers who have placed an order.
New Customer Revenue is the Total Customer Revenue but only for customers with one order.
Number of New Customers counts customers who only have one order.
Returning Customer Revenue is the Total Customer Revenue but only for customers with more than one order.
Number of Returning Customers counts customers who only have more than one order.
Repeat Sales Percentage measures your total sales to see how much is from one-time vs repeat customers. A healthy store will have a balance of revenue from new customers and loyal customers.
Average orders per customer shows how often an average customer orders in their lifetime. Higher numbers are usually better. This works with the Average Order Value to determine if you have customers who place "a few, large orders" or "many, smaller orders".
Average orders per month measures how many orders your store is getting per month. In the current periods (e.g. this year), this is adjusted to only count the months that have already started.
Average Customer Purchase Latency is the amount of time it takes between orders. If customers order exactly the same time every month, they'd have an Average Latency of 30 days. This will tell you how frequently customers are coming back to order.
Segment your customers automatically with RFM
Segmenting your customers has always been touted as a powerful marketing tool but many stores avoid it because it can be time-consuming.
Repeat Customer Insights will automatically segment your entire customer base for you based on the valuable data Shopify has already collected for you. Ranging from 5 to 30 to over 125+ different segments using RFM and other models, you can pick how much power you want to harness.